Mail Group buys property site
PrintIt's a Primelocation.com
Posted in Financial News, 8th December 2005 12:37 GMT
Free whitepaper – Thermal design of Dell PowerEdge server
The owner of the Daily Mail newspaper group is splashing out £48m to acquire property website primelocation.com
Daily Mail and General Trust (DMGT) said its decision to take-over Fastcrop (which owns primelocation.com) is part of the publisher's plans to cash in from growing sales in online advertising.
Primelocation.com is an online shop window for people looking to buy, sell, rent or let properties in the UK and attracts more than 850,000 visitors a month.
Last year it generated sales of £4.7m and a pre-tax profit of £500,000.
"The acquisition continues our strategy of making investments to increase our exposure to key areas of the online advertising market," Andrew Hart of DMGT in a statement today.
"Primelocation is a prize asset for us, complementing our other established businesses," he said. ®
Analyst Keynote: The Register Agile Data Center Summit
10 Steps to a Successful CRM Implementation
Market Primer: ERP Systems
What Exchange can't do - and Dell can
Enabling The Agile Data Center
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter